Topic: If Bitcoin been backed by Dollar then what will happen if the Dollar collapsed? (Read 462 times)

Precisely. Bitcoin is not designed to make people rich, but to get out from the shadows of government and banks. It’s up to the people already on how they will maximize the potentials of using bitcoin, either using it as a mode of payment or maximize accumulating bitcoin in order to establish a highly valuable investment. While there can be varied options for bitcoin benefits, but I don’t think that Satoshi has invented bitcoin all for the sake of moneymaking.

Unfortunately, more investors will result to more people’s opinions and conspiracy theories. I feel defeated that a lot of people seem to have missed the core purpose of bitcoin. I know that it’s profitable but all people care about is money when it comes to cryptocurrency which is not only its purpose in fact it wasn’t created at all because of that particular reason.
I personally don’t know why Satoshi thought of it when normal people were just accepting everything from the government with no questions. I guess that’s what makes Satoshi a unique person.

If only some users here will read some of the good threads here in the forum, they won't ask such question or think about this towards bitcoin. Satoshi didn't think about enriching himself when he created this currency. It is designed to be centralized so even ordinary people can benefit from it. A p2p currency that everyone can use and not rely to their fiat currency. Just take note of its importance as a cross-border payment. If you are dealing with fiat, you need a lot of documentation before you can send it to the other parts of the world, aside from the time that you need to wait. Whereas, if you deal with btc, you can even do your transaction at the comfort of your home within few minutes, and it will be received at the other side of the world.

I don’t think bitcoin is designed to turn people into millionaires, but most likely to gain freedom from the banks and be the bank of their own bitcoin. That is actually the purpose of Satoshi, that people will no longer rely to the government and banks, because bitcoin is a decentralized currency and that the owner itself is responsible to manage his own funds without entrusting to any third party like banks.

Because it is following a schedule. You can see the schedule here: https://en.bitcoin.it/wiki/Controlled_supply

It has real use, or at least it could have real use. Bitcoins can be exchanged for things other than fiat. Read this: https://bitcointalksearch.org/topic/bitcoin-pizza-day-i-want-to-buy-5497440

BTW, fiat also has no physical form. Those pieces of paper that you have are not dollars/euros/yen, but instead they are tokens that can be exchanged for dollars/euros/yen.


As long as people are willing to exchange things of value for bitcoins, then bitcoins will have value, regardless of what happens to fiat.

The problem with saying that something is "backed" or is not "backed" is that the word "backed" means different things to different people. I think it would help if when you say that Bitcoin is "semi-backed by fiat", you explain exactly what that means.



If fiat loses value then everything else gains value with respect to that fiat. That is called inflation.  You can buy both bitcoins and food with fiat. Are you claiming that if the value of the fiat goes to 0, then the value of food will go to 0 also?



Other than the bitcoins that Satoshi may or may not control, Satoshi and any plan she might have are irrelevant at this point.

Money is money, nothing is real money.

Money created and distributed to citizens by governments and banks is simply money. It is money when it has purchasing power and value but it will be only a useless paper if it loses purchasing and power to zero.

Maybe people want to classify between money created by central banks as real money and money created illegally by criminals is fake money. People like to use these terms to classify money but it is confusing. Real or fake money, if it has zero value, purchasing power to exchange with other things, other fiat currency, it is useless and will become the same, no matter you call it as real or fake money.

No.  He made it to make people enjoy freedom. 


Which equations?


Why is real money traded for Bitcoin if it's not considered real money itself?  Bitcoin, as a currency, is being exchanged for another currency at an increasing rate, yet only you acknowledge it as 'real'.  Change my mind. 

Buddy according to coin gecko 92% been mined in what? 16 years? what make you think that the last Bitcoin will be mined in 2140?

Satoshi wasn't smart, he or they was a genius and genius people tend to see money as nothing but a tool, a tool that help them get by.

the Utopia Satoshi want to create will cost a fortune and the fortune will come from the fact that he/they owner 5% of the total Bitcoin.

again, Bitcoin has no real use at all it has no physical form nor backed by anything but the Fiat that people pay to get it.
perhaps will have a semi physical form once a country use it to pay it employs as part of the backed up will be in goods this country produce and the only country so far think of this is Nigeria and it's a poor country so this won't save Bitcoin.

you my friend are the only person who understand me and see the point of this post so let me ask this to see how far we agree here.

1-you agree that once people don't pay any fiat to get Bitcoin it will lose it value?
meaning it's backed or semi backed by fiat

2-once the fiat that people pay lose it value Bitcoin will have the same or similar value to the fiat it been backed in?

3-Satoshi has a bigger plans than what we see or think and his plane will be executed once Bitcoin hit a huge price?

Now you're making sense with this. Demand and supply rule everything. If nobody wants bitcoin it would be worthless, if nobody wants Tesla or Apple stock it would be worthless even if they're back by something. If nobody wants gold it would be worthless. Demand and supply. Why do you think most altcoins remain less than $0.005 all their lives? Simply because nobody wants them.
So don't say bitcoin is backed by the dollar when you know that it's back by demand and supply.


2140.
That's not just a number, that's a year. That's the tear the last bitcoin will be minded. That's 116 years from now. So let's assume Satoshi was 18 when he created Bitcoin in 2009, he'll be 33 now. I've never been so good at maths but if my calculations are correct Satoshi would be 149 years in 2140.
So except Satoshi is one of the Salvatore brothers (most likely Stefan), I don't see how he'll be alive to make so much wealth and create a Utopia country for smart people.

Gold has a value because it's physical thing and not just because it's rare.
if today we been hit by a sold gold meteor that wighte 10000000 mega ton gold will still have a value as there is a vratiy of thing can be used only by gold.
you know that CPU has gold in it? and you know that Cobber lose 70% of elicrecty while gold lose less than 10% meaning that it's better Conductive

Bitcoin and all of Crypto is nothing more than bunch of ones and zeros in a silicon and wood.
zero phyiscal value, what gave it a value is demand and supply, the more people want it the more price it gain.

and this is where Satoshi master plan will come to real, once the last Bitcoin mined (92.5% of the Bitcoins are already mined) there will be no more supply but only demand, Bitcoin's price might get to 200K per one Bitcoin meaning that Satoshi will be the rich enough to buy an entire country.

If I had to Guess I'll say his plan is to create a utopia for smart people

The single fact that you've been involved with Bitcoin since 2016 should make you know that Bitcoin is not backed by any currency. It is not backed by the dollar or any other currency. If the dollar collapses, the value of a bitcoin can simply be measured in another currency. It is mostly measured in dollars because that's the generally acceptable currency in the international market.

There are cryptocurrencies backed by dollars such as USDT and USDC. These are called stable currencies because they neither go above or below $1. They appreciate and depreciate based on the dollar. If the dollar crashes, they'll crash. That's a coin back by a dollar.
Gold, for example, is not backed by the dollar. If the dollar ceases to exist, gold would still have its value, only that it would be valued using other currencies in the international market. The currency that is used to put a price on the asset has nothing to do with the value of the asset.

But what you are talking about are strictly rumors and speculation.  There is no proof Satoshi was even a math genius.  Satoshi may not even be one entity, it could be a group of smart people who put Bitcoin together.

There are a lot of speculations about who Satoshi is or was, but there is no real proof for any of the theories to become more or less valid.  Mining is still worth it, just not the way it used to be a k a home Mining.  Things definitely used to be much easier back when one CPU was equal to one Vote.  These days are over however, we have a much more powerful Bitcoin.  All the many thousands of Miners are not doing the work in vain, some of them are voluntarily doing it just out of support or to try and hit the Jackpot which is also pretty much impossible today, but many of them are doing it to get more Bitcoin or even make a hefty Profit.

It's very obvious that some persons don't know about Bitcoin but they would love to discuss anything they feel like to discuss, when you cross the user profile it looks like someone that have not at least gather little information of forum before it makes this thread, for me, I know very well, that some people just introduce their siblings here to earn bitcoin not to learn bitcoin, because the concept of op is totally different from the objectives of other persons who is already in the forum that's while it's direction of explanation is contradictory.

you really think that he will include such a detail in his whitepaper?!
buddy explain to me how something has value without being backed up by value it self?
every form of money in the ancinte time backed by gold or silver, hell when the Phoenicians invented the money they did it so they don't have to transport there gold via see and risk losing it.
the only form of money wasn't backed by gold was zahang money (warlord in china)
Bitcoin has a value because people pay money for it and that's that.
because when Bitcoin start it had a value less than 0.0001 dollar and it start to go up the more people want it.

I agree with 90% of what you siad, but again look up the Bitcoins Biloierins they are all smart and math genius like Satoshi himself

look up cicada 3301 a lot of people think that Satoshi is a group of cicada 3301 members, Satoshi was a math genius and he deliberately created Bitcoin's system so it become harder and harder to get (halving) and had a market cap of 20 million at max

you need at least 1000 hash to locate a block now a days and the rewards dose not even worth it anymore.
so, in a certine year Bitcoin won't be mined no more which will make it price stronger than ever and the 1 million Bitcoin owned by him/them will be used to there project.
as I said before I can't say that Satoshi is good or evil, whatever he want to do will be bettre than what we have today

Bitcoin is not backed by any fiat currency, you only think like that because dollar's been used as the baseline for how valuable a bitcoin is already, but for all intents and purposes bitcoin is not backed by the dollar, nor is it supported by any other currency on the market, outside and inside. And let me just correct you on one thing, if I'm not mistaken there is no where in the bitcoin whitepaper where it's specifically mentioned that he created bitcoin to make smart people rich, matter of fact, a lot of stupid clowns on the internet became rich off of bitcoin and those that are "smart" didn't get their hands on bitcoin at all, so idk bout that my guy.

Bitcoin is as real as it can be, the money is just an after effect, bitcoin is money and is originally intended to only be used as a currency and nothing else, probably because Satoshi's getting fucked by remittance fees and all that shit, to which he created a cryptocurrency that spans the planet and that does not fuck you over with fees and wait times.

Bitcoin is money first, it only became a store of value accidentally.

I don't think Satoshi himself/themselves expected his creation to boom like what we currently have right now and I think his intention is only to create a new form of digital and decentralized money he/they did that not for the good of himself/themselves. So I am asking you right now why the heck Satoshi has to back BTC with a centralized fiat if he hate it himself/themselves?

Replying to the title first, Bitcoin is not backed by the Dollar and it would be pointless to back it by Fiat.  That would redeem the entire purpose of Bitcoin null.

But you probably meant to say what happens if the Dollar collapses considering Bitcoin is usually priced in Fiat.  Well.  If the Dollar collapses, first and fore most the whole world is going to be doomed for a while.  No body would care about Bitcoin or Fiat probably for a reasonable time.

If they did care still, Bitcoin will PROBABLY continue to exist and have value.  Because it will continue to be as scarce, it will have the same properties.  Long as the Internet is still alive and well, Bitcoin will continue to be used without a doubt.  Particularly considering there would likely be a significant amount of hatred or uncertainty about Banks, Bitcoin would be a great solution as it is Decentralized.

What the hell?  Hand me out a source of ALL the people who became Rich from Bitcoin being over 130 IQ?  This sounds ridiculous and so made up.

But then Money is not real either.  What you get with the Money is.

Bitcoin is real.  It is valued by us who are using it and it is valuable to most of us here.  I would continue to pay for Bitcoin even if a whole piece was a million Dollars.  I just think it is a value and I do think it will never permanently lose the value it has.  I could be very wrong.  Who knows.  It remains to be seen.

Many things are 'not real' if you think about it.  Got something of value that other people think is worthless?  To you it is value, to them it is nothing.  They could throw it in the garbage can and go on with their day.  But then there are other people who would pay the value you think it has.  Or maybe even more just because they value it too.  This reminds me of Schiff, who always said Bitcoin has no value and is equal to zero but now I bet he regrets deeply.

Bitcoin is a value.  There is no point in changing your mind considering this is a fact as it is priced close to 70 THOUSAND Dollars and has only been rising for more than a decade.

The op is making a lot of strong but wild allegations there. I don't think there is evidence that Satoshi created Bitcoin to get rich, that it's a way for very smart people to get rich, or that people who got rich from cryptos have very high IQ. When Bitcoin was created, it's cost in the early days was well below $1, so it wasn't about the price or about a smart investment. Bitcoin was about a revolutionary approach to what money can be like, even if not many people appreciated it. As for who can and did get rich from Bitcoin, I think it's a wide range of people under different circumstances.
It's good that Bitcoin isn't backed by dollar because its point is to offer an independent alternative from fiat.

no, only smart people who knew math very well adopt it.

I told my rich frinde to buy Bitcoins in 2015 but he didn't listne and he laughed, he was stupied and his money came from inhrite and he would've been a millioner now,

in another word, Bitcoin nature was only appealing to smart people like Satoshi, hell even Wallstreet said that Bitcoin is a huge pyramid scheme so did 90% of the people till 2015.

yes I am from a third world country
the meaning behind my words "high IQ" is the fact that the only people who belvieved in BTC or Crypto in early days where geunises just like Satoshi, the bought it dirt cheap and they sold it for gold never to be worry ever again about money

if the dollar collapsed then Bitcoin will still have a back up by other currncies but still, it can't be the currncy of the futere just by being backed up in diffrinte currncy that's like trading 1 kilo of gold for 10 bars that wight 100 gram each,

what I am saying is that Bitcoin will collpase with those currncies (USD EUR) and such.
that's it

I find some misleading information in this topic, @OP.

Bitcoin, isn't it real? How do you mean? If you are saying that an asset is not real, then how can you even make the profit that comes from that asset when you don't invest in or have the asset? An asset is money because you can trade it for any fiat you want. 

Secondly, Satoshi Nakamoto did not only develop Bitcoin so that people in the West could become millionaires; he created it so that anyone who loved the technology could adopt it and use it for p2p transactions. In the Bitcoin White Paper, Satoshi did not say he created Bitcoin to enrich people from the West or everyone in the world. If people from the West were the first to take the advantage of investing in Bitcoin on time, then it was their luck, Satoshi never stopped anyone from around the world to own Bitcoin when it was first launched.

So many people have been saying this about the dollar, that its days are numbered, however i think it is just out of jealousy for the U.S and its system, i don't agree that the U.S dollar is going to stop being the world's reserve currency anytime, but we can all agree that BTC wasn't even created to replace the dollar, neither can it.

BTC is fine as a p2p electronic cash that is censorship resistant and permissionless and so many people have to accept its part as an alternative to fiat and not a replacement.

Now, now, lets not get carried away with this "Bitcoin genius" narrative. Satoshi Nakamoto was smart, and I've always seen talent. But the concept that Bitcoin was created only for geniuses to get rich? Not really. Bitcoin is a digital asset, a decentralized future symbol, and a large, beautiful financial freedom vision. Its about empowering people and challenging the status quo, not just making money. Everyone, regardless of IQ, can support that.

Back to your dollar collapse question. Bitcoin would fall if tethered to the dollar. Bitcoin's worth isnt only connected to the dollar. It comes from its scarcity, practicality, and rising acceptability as a real store of wealth. The dollar's days as the world's reserve currency may be numbered anyway. So, who knows, maybe Bitcoin will be the one laughing last.

The rich get richer and the poor gets poorer. From what you are saying it looks like you are from a third world country. The rich people who understand the potential in bitcoin were able to accumulate enough Bitcoin when it was cheap, and from history bitcoin price have being increasing overtime generating more profit for them.

Next time don't think of things but make research and learn more about it before you come to share your thoughts with people, so that they don't see you as someone that is in the other side of the world. Government printed fiat to manipulate it and make themselves rich, bitcoin is opposite of fiat.

So are you referring to Satoshi's wealth in terms of the amount of Bitcoin which is
in the wallets known to be his*, the ones to this day still remain untouched? because
until they are liquidated into FIAT they are still just a digital asset

The gift he gave us was:


It has nothing to do with getting rich, it has just turned into a speculative asset by some
people. There is nothing to stop anyone from using it, rich or poor

Its obvious that wealthy people have the finances to jump into Bitcoin and grow their
wealth, the same goes for people with lesser means, they have the same opportunity
but on a smaller scale.

Nope, he didn't!
He gave people the ability to transact without a 3rd party, he wasn't interested din making billionaires.


Nope, he didn't!
And if you insist on this one, what equations did he solve?


BS! There are a lot of cases of low IQ individuals who just played their cards right at the right moment and got rich.
Besides a lot of the early adopters which were far more technical than the current generation sold their coins early on or didn't care on accumulating that much of it


Deep web is a different concept than what you actually think of, you're talking about dark web, and dark web is far older than Bitcoin, just as how the first darknet market predate Bitcoin by a decade.

1. The future is now. Bitcoin has developed from the beginning as a currency. Don't you see it? 2009-2024! If USD dies, then we will still use Bitcoin.
2. Make Bitcoin easy to use as a currency. I don't care if it's a man, a woman, or a bunch of people.

Why do you always talk about getting rich? There are many people who are getting extremely rich from Bitcoin, even though they don't understand how it works.

Just because Dollar is a global reserve currency and most people use Dollar to buy Bitcoin, it doesn't mean Bitcoin is backed by Dollar!

This is another fallacy when someone learn Bitcoin, they thought once Dollar is gone, it will greatly affect Bitcoin. However Bitcoin isn't necessary need to convert to Dollar since Bitcoin is already a currency.

1 BTC = 1 BTC, start to treat something equivalent in BTC instead of Dollar.

If the usd collapse then there will be a shift in the world. As we all know usd is the global reserve so if it were to collapse, there would be a decision to make to choose which will be the currency to be the world’s reserve. It could be bitcoin or it could be other fiat currencies as well so it’s difficult to know for sure.
He just wanted to make a currency void of third parties that’s it. I don’t think he intended for all of this to happen.

That up there is the lamest assertion I've seen about Bitcoin on this forum, I mean, WTF does he mean by Bitcoin is backed by fiat?
Asides the very fact that they're both legal tenders and used for transactions, there's absolutely no relationship between Bitcoin and fiat.

I'm trying to figure out how you're able to think that a Centralized currency could back up a decentralized currency because it doesn't make sense to me. There's just so many distinctions between crypto and fiat and I can't begin to name them all.

If you're selling your bitcoin, it should be for somewhat different reason and not the silly idea that it's backed up by fiat, that's just so lame.

Bitcoin is not backed by USD. If Bitcoin becomes the currency of the future, one reason could be the collapse of USD. If USD collapses, the value of a bitcoin will increase as people dump their USD and buy bitcoins.



It's right there in the white paper.

No. You’ve gotten it wrong. Satoshi never built Bitcoin for people to get rich. It is only coincidental that it’s making people rich, and now people see it as a way to make money than a currency. Bitcoin is meant to be just like dollar. But without a middle man (peer to peer). It’s unfortunate that people now think this way and the essence of Bitcoin keeps dying gradually.

1-Do you believe that Bitcoin (and Crypto in general) will be the currency of the future?
if so then what happen if the USD collapsed?

2-What was the end goal of Satoshi (if you you believe that he is a singler guy)

I do not have any animosity against Satoshi nor the smart people who became filthy rich because of the Bitcoin, I am just saying that Satoshi want to create an ideal world where smart people are rich and that's it
with that being said Satoshi dream came true, if it didn't came true then 67 billion isn't enough for his ideal world and that you should never see Crypto is the future currency

Exactly my thoughts about OP too. The Knowledge of Bitcoin and the history of Bitcoin which includes its creation and growth over time is a great knowledge that can help OP by giving him a hands-on understanding of what the technology is all about the purpose behind it as well as the vision that herald it's making. OP will realize it doesn't have anything to do with the dollar currency and should not be associated with it since it really doesn't depend on it. Having these basic knowledge and understanding on how the bitcoin operates and works helps one to get a clear cut meaning and would not have to ask those questions.

Op what you discuss in the body of the thread is entirely different from the topic so we that would make the comments would do in two perspective. One for the topic and the other for the body. Okay dollar collapsed it will affect the price of bitcoin because bitcoin is calculated with dollar then from dollar other currencies calculate how much they get from bitcoin. Bitcoin has been calculated directly to my fiat currency. Like example. If I want to sell 0.0057 I will first write the bitcoin rate in dollar in the current price. $67,740 then times the amount I want to sell  0.0057 then times the amount of your country currency in dollar exchange rate at the moment. Example 2: $67,740 X 0.0057 = $386.118 X NGN 1,450 = NGN 559, 871.1.

Yes bitcoin has made many to become millionaires.

I already read it again, and then pointed out it was bizarre.

Your title is about bitcoin being backed by the dollar. And you said you think about that twice a week. And then you ignored the title and switched entirely to making up a bunch of stuff about Satoshi like he's a math genius and he made bitcoin for geniuses to be rich lol. You mention him solving equations thought to be impossible lol. You start mentioning IQs lol. So, just a bunch of stuff you made up about him.

So, again, I say:

Your actual post had nothing to do with your title, and your post was just a bunch of made up nonsense about Satoshi. A mod should delete this thread.

Am I hearing bitcoin is scam here?

Perhaps a lot of people have shared with you what bitcoin really is all about but I guess you still have a theory to give in this community about bitcoin.

Bitcoin is not backed by fiat, it's an alternative currency which is used same way as fiat but not a physical money as your regular fiat.

I can see a bunch of regrets in your statements maybe you couldn't succeed with your idea of becoming a billionaire after having up to a hundred to a thousand bitcoin which you lost now that bitcoin is way too valuable than you can imagine you turn against it with some kind of theory.

Is this an assumption or he communicated that to you? Some of the wallet many people believed to be owned by Satoshi has remain untouched for several years and not a single sat has been moved out from it, how do you back your claim that Satoshi enrich himself. Do you even have idea some rich list wallets that has bought Bitcoin since 2009 and has never touch them, please research about "Bitcoin richlist addresses".


It's not about smart people, it's about people who are tired of the government censorship and middleman system across the traditional finance couple with lack of privacy that people don't enjoy. This is what Bitcoin was created for. I think you need to read Bitcoin Whitepaper once more.

Bitcoin isn't back by dollar, it's depends on what a buyer is willing to buy from another seller. It can be pair against any currency even other Cryptocurrencies like Ethereum(Btc/ETH) and many others or other popular stablecoins(Btc/usdt).

The narrowness of your understanding is exposed by the main views you are imposing so ask yourself, are you capable of doing this? And if you do, do you think about being rich?

I'm just someone who takes advantage of the opportunities the market offers to make a profit, but I'm truly grateful to those who built this market with great faith.

Curiosity to give opinions about Satoshi only belongs to certain individuals/groups, and Satoshi is not concerned about that. If you research about WP Bitcoin, try to find out why they brought it come to everyone.

To play with your fantasy, I would say that bitcoin would probably collapse too given how it's backed by something worthless, it will essentially become worthless. Also, you should probably deal with how you do your threads, make your content match the title, what part of the title is your content connected? How exactly is it connected? Also, do you have a proof in regards to your speculation that Satoshi just made bitcoin for the rich folks down there in the west? It seems that it's a really stupid and nonsensical thing for you to say because how exactly does your theory work, it's speculation that doesn't have anything in it, no explanation.

There are some assumption in which we cannot expect to see turn a possibility, one of it is from the analogy that bitcoin be backed by a fiat currency, that is not possible, then i also never think of it one day that USD will collapse, because i don't see a reason for that, even if bitcoin turned to be a mainstream payment medium in the future and we have achieved global harmonization, USD may still be relevant and we may only have the two medium serving as alternatives to making payments.

Bitcoin isn't real, it's e-real.  

Do you think the paper, polymer fiat currency you have in your hands are real and actually have value?
Do you think the figure in your bank account digitally is real and actually has value?

Basically fiat currency in either forms, physically or digitally, can has no value at all or we can say it has less value than what we see. Because it was created from the air and no back behind or the backed assets have less value than value of fiat currency printed by governments.

Is it enough to change your mind?

Literally speaking, Bitcoin or cryptocurrency is not backed by nothing at all.  It is backed by the demand of people.  Cryptocurrency is a free market where every individual has the right to process a buy order which is called demand.

If Bitcoin or other cryptocurrency is backed by nothing at all then you can see its market price plummet to oblivion.  It is not only backed by dollar but also backed by other currency due to the variety of market demands.  Many people buy Bitcoin through different fiat and cryptocurrencies and it is obvious by the Bitcoin trading pairs.

To answer your title, if dollar collapsed, Bitcoin price value in relation to dollar will soar.  The lower the value of the trading currency pair is, the higher the price of bitcoin in that currency.

This is what my elementary school teacher would call beautiful nonsense.

When I saw the title of the thread I was eager to go through the content to see what you wrote down there because the topic intrigued me, only to find out you're talking about a totally different thing.

How is Bitcoin created for the rich? For as long as I know, at the time Satoshi was in the equation of Bitcoin, any poor person could afford a whole Bitcoin and not what's not impossible for the average person. Do we even know if he had some Bitcoin himself?

Someone should help give me an answer to this. I want to also know this.

I guess if you were in bitcointalk at that time you probably may have find a way because I still believe there maybe others in your country that still acquired more

Not all cryptocurrencies is backed by fiat to be frank, those who are backed by it are like the USDT and likes.
We usually compare their prices using these fiat because that's what we locally use in our various countries

Actually this is a fallacy, you have misconception in this, it's not about being a genius here, let me bring something to your mind.

The fiat currency are still generated through maths are all of  those using it  genius or were everyone who had or invested in gold genius ?

Infact many more individuals who invested in bitcoin are not genius or  have much understanding about the maths in Blockchain, there are basic books, articles or individuals that just speak about the truth about bitcoin and these folks just saw a reason of investing in bitcoin and now they became who they are now.

Don't also forget many knew the maths but sold earlier while many who don't know anything about the maths is still HODLing notably those in WO thread

The goal was clearly stated in the whitepaper as a peer to peer electronic cash system, Satoshi goal in creating bitcoin was not to make people rich rather through its decentralisation freedom, privacy and every other benefits that follows having bitcoin came.

Looking at your replies, it seems like you are pretty obstinate. So, if I agree that you are "right" in your prior argument, what would you do? Because in my mind, there are only two possibilities.
1. Stop all Bitcoin-related activities and never go back on them.
2. Increase your IQ to compete with the folks you're referring to.

I respect the man
but my theory is that Bitcoin isn't a form of currency and it's not the future currency
and yes, if it wasn't for Bitcoin the Deep web market wouldn't be open (Now a days XMR toke the throne since Bitcoin decentralisation isn't hard to crack no more)

the Idea is Satoshi end game, this man (and as I said he is probably a A group of geniuses, not one man) to create an Ideal world for smart people and I am curious about the next move (and what will happen if the Dollar collapse)

if it's decentralize then you can't say that to me bro.
acutely this is why I joined in 2016 because I never ever could've use any form of money beside paper before, Crypto was my Cope even though I didn't fully believed in it back then.
I am not disparaging Satoshi I respect him but this is my personal opinion pro.

You are not against this idea, but you are against Satoshi Nakamoto, how does your logic work buddy? you think you are not a newbie because you have been collecting bitcoins since 2016, is that a strong reason?

That's the same as saying i bought a cat or dog since 2016 and i know about them completely, no buddy, no!. Those who understand best about these animals are experts on these animals.

The deep web was discovered by Michael K. Bergman in 2001 ^[1], while Satoshi created & discovered bitcoin in 2009 ^[2]. Read more so you can find out more deeply about things, buddy.

[1] https://en.wikipedia.org/wiki/Deep_web
[2] https://en.wikipedia.org/wiki/Satoshi_Nakamoto

read it again
my post says that Satoshi want to create an Ideal world where smart people like him will never be poor or have any worry about the money.
that the just of it
you didn't answer my question

I have been hearing this word that one day dollar will collapse. I haven't seen any sign that it will collapse on the contrary those tried destroying the dollar have either collapsed or died.

If you don't have knowledge about Bitcoin then you should first work on having little knowledge about it. Find out first the reason for the creation of Bitcoin then you will understand that if anyday dollar collapsed it won't affect Bitcoin.

Satoshi did not create bitcoin for the purpose of making us rich. No one even knows the economic situation of Satoshi as far as I know. We don’t know if he’s a millionaire or just in middle class. One thing for sure though is that he made bitcoin as an alternative to other currencies.

What kind of theory is this lol. We don’t know where Satoshi is from even if his name is Japanese we don’t know if he was one actually. To say that bitcoin is solely for people in the west is kind of selfish and self-centered I’m not going to lie. Bitcoin is for everyone.

It would be better for you and your brain if you do some research twice a day instead of thinking about things that don't make much sense.

Satoshi didn't create Bitcoin to make anyone rich, and you should know this if you have some sense of understanding that Bitcoin didn't have the same value when it was created nor did it have this many people interested in it. There were only a few people including the developers and testers who started using Bitcoin initially, and then it started gaining attention because of how it was designed.

Those who became rich because of Bitcoin deserved it because they believed in the technology and adopted it when it didn't have any value at all unlike most of us who are into it after seeing how it can provide good profit.

I am not against this Idea at all my friend.

And I believe that is a good Idea and BTW I am not a newbie at all I start to collect Bitcoins since 2016 and the only reason that I am still poor is the fact that I lived in a country where it's illegal for me to have a credit card (thus it was impossible to buy it, I only get it from faucets and got a few Thousands out of it)

The reality tho is the fact that this coin and Crypto in general is backed by nothing but Fiat and this is why I always want to sell my BTC before it's to late (it been stolen but that beside the point)

imagine an ideal world where the smartest 1% get free money from the normal 99%?
A world where a geniuses don't have to worry about money?
I mean the only people who genuinely thought of it success where the ones smart enough to look at the math equations and the block chain technology.

I also think that Satoshi did it so no country will ever be under sanctions or blockade and If it wasn't for Bitcoin we wouldn't have the deep web now.
Rember that Satoshi still own 1 miloin BTC, he is a multiy bloiier hell he is one of the richest pepole on earth but why he didn't sell it yet? Because moeny dosnt mattre for smart pepole, only avagre pepole see moeny as a goal in life the smart one see it as a tool to get by and that's it.
And I'm 99% certin that Satoshi is a group of pepole not a singler person, this group want pepole to have a fiancinal security yes, but they have a bigger goals, Much bigger theana being rich.
I can't say that they are good or evil but they are bettre than what we have today and what ever is the project they have in mind it's a huge one that need more than 100 biloon Dollar to work
Excuses my english, not my first langauge.

I doubt you even belong to the crypto world and have any information about Bitcoin and how it works, all I can see is a noob trying to blame Satoshi Nakamoto for something he didn't do, Bitcoin is a decentralised P2P transfer medium and had there been any such intentions as you have mentioned then Bitcoin wouldn't have been decentralised. I would suggest you to read Bitcoin's white paper once.

Your actual post had nothing to do with your title, and your post was just a bunch of made up nonsense about Satoshi. A mod should delete this thread.

OP, I don't know where this post is heading to by your "Rich" statement. Have you read the Bitcoin white paper?. The title clearly states: "Bitcoin: A Peer-to-Peer Electronic Cash System". Satoshi pointed out so many things on the published white paper which getting Rich was never part of it. Please don't misquote him.


Every programmer especially those who are into C/C++/python,etc needs to flexible with maths. So .


Making money is also part of Bitcoin, but does not necessarily mean you must be good in maths like Satoshi and other programmers. Your strategies(plans) and what you have(funds) for investment is clearly what makes you rich.

You might have skipped this thread after your registration:
https://bitcointalksearch.org/topic/newbies-read-before-posting-1689727

Satoshi Nakamoto did not create bitcoin to enrich himself or a certain group, before getting to know bitcoin more deeply i also had the same thoughts as you, but as i was on this forum, i got a lot of insight and true reality from Satoshi Nakamoto. It's clear that Satoshi Nakamoto wanted to change people's views on finance & freedom, he wanted to free people from the restraints of third parties such as banks & overly regulatory governments.

You are a newbie & that is why you have the views you believe now. GazetaBitcoin threads ^[1] might be suitable for you and i'm sure you will change your mind after reading them.

[1] https://bitcointalksearch.org/topic/help-me-translate-my-best-posts-in-your-local-board-5379715

I genuinely  think about this question twice a week.

Satoshi Nakamoto (Who ever he really is) simply made Bitcoin to give a chance to geniuses like him to be rich
remember that Satoshi was a math genius, he solved equations thought  to be impossible it the time being.

he made it so only smart people who live in the west can be millionaires in the future and he did it I mean look at the richest people who made there fortune form Bitcoin and other Crypto currencies, all of them have 130 IQ at the least and all of them sold most of it.
Bitcoin isn't real, the money that those people got is.
change my mind!